A busy Friday night, decades ago. Photo: Steve Liss/LIFE/Getty

As Amazon's market power has sunk big box stores left and right, Walmart seemed next in line for a big hit. But the 56-year-old legacy retailer has been surprisingly nimble as it stares down the formidable everything store.

Driving the news: Walmart today easily beat earnings expectations for Q4 of 2018, giving its stock a 5% boost at one stage. The company reported a whopping 43% year-over-year increase in online sales — for the second quarter in a row.

Backdrop: When Walmart and its big box peers were struggling to compete with Amazon, Walmart took risks by pouring money into sprucing up its stores and spending big to acquire Jet.com, the e-commerce business.

  • The company took a temporary hit to invest in itself, says Neil Saunders, managing director of GlobalData Retail. And now it's paying off.

What's next: In a note to investors, Moody's analyst Charlie O'Shea said he expects Walmart to keep dominating retail in 2019. The company will "continue to flex its muscle across multiple product categories," he said.

Go deeper: Walmart, the anti-Amazon

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Amy Harder, author of Generate
31 mins ago - Energy & Environment

Climate change goes mainstream in presidential debate

Photo illustration: Aïda Amer/Axios. Photo: Olivier Douliery-Pool/Getty

The most notable part of Thursday’s presidential debate on climate change was the fact it was included as a topic and assumed as a fact.

The big picture: This is the first time in U.S. presidential history that climate change was a featured issue at a debate. It signals how the problem has become part of the fabric of our society. More extreme weather, like the wildfires ravaging Colorado, is pushing the topic to the front-burner.

Finally, a real debate

Photo: Morry Gash/AP

A more disciplined President Trump held back from the rowdy interruptions at tonight's debate in Nashville, while making some assertions so outlandish that Joe Biden chuckled and even closed his eyes.

  • A Trump campaign adviser told Axios: "He finally listened." 

The result: A real debate.

Biden to Trump: "I have not taken a penny from any foreign source ever in my life"

Former VP Joe Biden pushed back Thursday against allegations from President Trump, saying he had never profited from foreign sources. "Nothing was unethical," Biden told debate moderator Kristen Welker about his son Hunter's work in Ukraine while he was vice president.

Why it matters: Earlier on Thursday, Hunter Biden's former business partner, Tony Bobulinski, released a statement saying Joe Biden's claims that he never discussed overseas business dealings with his son were "false."